With the forecast being less than what was originally predicted, I fear that more businesses will suffer from the ripple effect that occurs from slower growth when companies are unable to pay their bills.
Atlanta, GA (PRWEB) July 22, 2014
C2C Resources, a commercial debt collection agency headquartered in Atlanta, commented on the state of business debt within the United States following a report that was released this month by the National Association for Business Economics. The company believes there will be an increase of delinquent business customers based on the national projections.
As June marked the end of the second quarter of 2014, The National Association for Business Economics downgraded their forecast for business growth from 2.5 percent to 1.6 percent for the year, according to an article released in The Digital Journal titled “National Association for Business Economics: 1.6 percent growth” by Larry Clifton (July 12, 2014). The first quarter of the year resulted in a 3.9 percent decline in output from businesses.
“This dismal projection of business growth is alarming for businesses who are trying to overcome the country’s seemingly perpetual recovery period,” said Todd Tinkler, President of C2C Resources. “With the forecast being less than what was originally predicted, I fear that more businesses will suffer from the ripple effect that occurs from slower growth when companies are unable to pay their bills.”
While the report did not release reasons for the cause of the downgrade, other than the nation’s poor first quarter, Tinkler believes that businesses are still rebounding from the harsh winter weather. “Unfortunately I do not think we have made it over the hurdles that the harsh winter weather conditions caused for businesses,” said Tinkler. “I hope companies continue to monitor their bad debt and utilize the right tools to overcome any setbacks they could see from other businesses who are suffering.”
Tinkler suggests that businesses should consider monitoring their customer payment history and status with C2C Resource’s free web-based accounts receivable management system, Profit Maximizer. The system allows business professionals to record notes and schedule calls with delinquent customers to help increase their cash flow.
The news of the downgraded forecast comes just one month after the announcement that the United States has hit the highest level of debt the country has ever had. According to an article in The Week titled “The United States of too much debt?” released on June 18, 2014, the total debt within the United States, including consumer, business and federal and local government, is nearly $60 trillion.
About C2C Resources:
C2C Resources is a global Commercial Debt Collection agency headquartered in Atlanta, Georgia. The company collects commercial debt on behalf of their over 20,000 clients and is considered one of the top agencies in the country. The executive team at C2C brings more than 60 years of experience helping businesses collect their accounts receivable.
C2C’s powerful combination of Profit Maximizer, InfoMax Collection System, and Legal Forwarding Edge, can help your company be more effective with your own in-house collecting and maximize recovery of accounts turned over for collection.